Market Overview

Bernstein Downgrades Juniper Following 30% Rally

Share:
Bernstein Downgrades Juniper Following 30% Rally

Following the strong rally in Juniper Networks, Inc. (NYSE: JNPR) shares, the stock is now trading in line with its average historical P/E multiple, Bernstein analysts said in a report, while downgrading the company to Market Perform.

Juniper’s shares recorded a steep decline over the first five weeks of 2016 due to the company’s cautious guidance and the resignation of the chief financial officer. Shares have now rebounded ~30 percent from their February lows, backed by “excellent execution and momentum in its "cloud" business in recent quarters,” the analysts mentioned.

Expectations For 2017

The 2017 estimates for Juniper have been revised upwards and now appear “very reasonable,” the analysts pointed out, adding that the expectations had increased ~3 percent in the last three to six months.

Although there is some upside potential, particularly in the first half of the year, the expectations imply a strong performance in H2, which means “the situation will become more risky as we progress into 2017,” the Bernstein report added.

Latest Ratings for JNPR

DateFirmActionFromTo
Sep 2019Initiates Coverage OnIn-Line
Aug 2019Initiates Coverage OnEqual-Weight
Jul 2019DowngradesNeutralSell

View More Analyst Ratings for JNPR
View the Latest Analyst Ratings

Posted-In: BernsteinAnalyst Color Downgrades Analyst Ratings Tech Best of Benzinga

 

Related Articles (JNPR)

View Comments and Join the Discussion!

Latest Ratings

StockFirmActionPT
MUCascendReiterates65.0
ALDRCanaccord GenuityDowngrades20.0
LEGHLake StreetInitiates Coverage On21.0
CHUGoldman SachsUpgrades13.2
STZBMO CapitalMaintains230.0
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Trading Daily
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com

Benzinga's Top Upgrades, Downgrades For January 9, 2017

5 Overvalued Cannabis Stocks - Part 3: People Price Marijuana Stocks Like Lottery Tickets